WeBuyCars bounces back

In the 6-month period ended 31 March 2025 statement, WeBuyCars reported some impressive results. The automotive giant uses core headline earnings to measure and benchmark the underlying performance of the business. The company reported an expected R516.3 million in core headline earnings, which is a 28% year-on-year increase. An expected core headline earnings per share of 124.2 cents per share was reported, which is a 4% year-on-year increase. An expected R508.8 million for basic earnings was reported, a 100%+ year-on- year increase. Basic earnings per share is expected to be 122.0 cents, a 100%+ year-on-year increase. Headline earnings are expected to be R510.0 million, a 100%+ year-on-year increase. Lastly, headline earnings per share is expected to be 122.3 cents per share, which is also a 100%+ year-on-year increase. MTN reports results for the year ended 31 December 2024

The group reported a loss after tax of R11 207 million for the year ended 31 December 2024, a year-on-year decrease from a profit after tax of R4 017 million for the year ended 31 December 2023. The group saw a sharp decline in its revenue as it decreased from R221 056 million for the year ended 31 December 2023 to R188 001 million for the year ended 31 December 2024. An increase from R324 million for the year ended 31 December 2023 to R585 million in direct network and technology operating costs was reported. The group's impairment and write-down of trade receivables and contract assets increased significantly, rising from a R1 330 million in the year ended 31 December 2023 to a shocking R2 528 in the year ended 31 December 2024. The group reported a R653 million loss on the disposal of its subsidiaries, a 100% year-on-year increase. Consequently, the group also reported a R437 million impairment on goodwill, a 100% year-on-year increase. Furthermore, one of the major losses that were reported was the R11 722 million impairment loss on MTN Sudan's non-current assets, an increase from a R277 million impairment loss for the year ended 31 December 2023.

The group spent less on capital assets, with CAPEX decreasing from R63 622 million for the year ended 31 December 2023 to R53 290 million for the year ended 31 December 2024. No interim dividends were declared for the 2024 year, however, a gross 345 cents per share final dividend was declared for the year ended 31 December 2024, reported to have been declared out of the group's reserves. The group's basic earnings per share decreased from 227 cents per share in the year ended 31 December 2023 to -531 cents per share in the year ended 31 December 2024. The group's non-current liabilities increased noticeably in the year ended 31 December 2024, with an increase from R119 737 million in the year ended 31 December 2023 to R142 911 million. The significant part of this increase relates to borrowings and lease liabilities. However, there's been a slight decrease in the group's current liabilities, with the reporting year's current liabilities reported to be R149 200 million, a decrease from R156 802 million in the year ended 31 December 2023. The group's non-current liabilities remained relatively the same, with the year ended 31 December 2024 reporting a non-current assets balance of R288 255 million, a slight decrease from R289 988 million for the year ended 31 December 2023. The major components of this balance is made up of the group's PPE, intangible assets and goodwill, and right-of-use assets. These assets were reported to be R109 731 (R117 197 million:2023), R71 363 million (R74 813 million: 2023) and R59 264 million (R48 207 million: 2023), respectively. The group also recorded an increase in its current assets, an increase from R137 836 million for the year ended 31 December 2023 to R142 258 million in the reporting period. The group's equity also decreased quite significantly, recorded a balance of R138 447 million in the year ended 31 December 2024, a decrease from R150 183 million for the year ended 31 December 2023. Retained earnings is the line item responsible for this decrease in equity as they were reported to be R79 458 million in the year ended 31 December 2024, a decrease from R96 339 for the year ended 31 December 2023. Ads for the week Purchase a year planner from Khoulebali Designs and receive a 5% discount by using the promo code: COINS5. Click on the link below to visit the store: https://www.etsy.com/shop/KhoulebaliDesigns?ref=l2-about-shopname&from_page=listing

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